What Are Humana Medicare Supplement Plans (Medigap)
Humana Medicare Supplement Plans are supplemental policies offered by Humana, a health insurer established in 1961, and has increased its footprint to become one of the largest publicly owned health insurers in the United States. Compare rates for all the companies offering Medicare Supplement Plans in your area or call 844-528-8685 to speak to us. Continue reading for details on Medicare Supplement plans offered by Humana.
Find Medicare Plans in 3 Easy Steps
Although most seniors know ahead of time, there is a certain amount of sticker shock when they first enroll in and use Medicare Part A and Part B.
Please don’t misunderstand, the sticker shock is not for the monthly premium being charged for Part B, the sticker shock is from the substantial gaps in coverage that result in significant out-of-pocket expenses because of deductibles, copays, and coinsurance.
Fortunately for America’s seniors, the private insurance industry saw an opportunity and began offering supplemental insurance that would help mitigate out-of-pocket expenses while providing the same benefits of original Medicare in return for an affordable monthly premium.
We should point out, however, that the premium for Humana Medigap Plans is in addition to the Part B premium and not in lieu of it. Simply put, Medicare Supplement insurance fills in the gaps of Original Medicare, hence the term Medigap.
The coverage experts on the Medicare Solutions Team intend to educate those seniors who are significantly concerned about these out-of-pocket expenses and provide solutions for how to get them under control while paying as little additional premium as possible.
We accomplish this by helping seniors shop their coverage with all of the highly-rated health insurers that offer Medicare Supplement Plans. The good news is, we never charge a client for providing this valuable service.
Find Medicare Plans in 3 Easy Steps
Humana Insurance Company
We enjoy our relationship with Humana since they are a leader in the health insurance marketplace and we are confident every year that they will offer competitive pricing along with outstanding customer service.
Currently, Human is serving over 14 million medical members and over 7 million specialty members. Headquartered in Kentucky, Humana continues to receive accolades for its health insurance products as well as its outstanding customer service.
Humana’s Financial Ratings
As of 2024, Humana Inc. has reported solid financial performance. For the second quarter of 2024, the company’s revenues were approximately $29.5 billion, reflecting a 10% increase from the same quarter in 2023. Their year-to-date revenues reached $59.1 billion.
Humana’s insurance segment remains its primary revenue source, contributing over $28.5 billion in the second quarter alone. The company’s adjusted earnings per share (EPS) stood at $6.96 for Q2 2024, with a year-to-date adjusted EPS of $14.19.
Humana’s total assets have been estimated at around $60 billion, but more specific numbers for 2024 are not fully available in the latest reports. However, their operating cash flow for 2024 was reported to be $1.6 billion.
In terms of credit ratings, Humana has maintained strong ratings from major agencies.
Humana’s Insurance and Services Offerings
Humana thrives in both the individual and group insurance markets by offering stellar products that are administered using innovative technology:
- Insurance plans for military members, retirees, and their families.
- Administrative service products
- Individual major medical and specialty plans
- Consumer-driven plans like Dental and Vision
- Prescription drug coverage plans
- Supplement Plans
- Humana Medicare Advantage Plans
Humana Medicare Supplement Insurance (Medigap)
Like most health insurers, Humana offers all of the most popular Medicare Supplement Plans which include plans A, B, C, F, High Deductible F, G, K, L, and N.
Medicare requires that companies who offer Medicare Supplement Insurance offer the same required minimum coverages which means that the primary difference between each company is the price of their plans.
However, many of the popular companies go further than the minimum coverage requirement and provide additional services and discounts. Human Medicare Supplement Plans come with the following benefits in addition to the required coverages:
- Renewable Coverage – Once you’re qualified for a Humana Medigap plan, your insurability continues. This means that if you become ill or hospitalized in the future, the company guarantees to renew your policy year after year.
- Trial Offer – All of Humana’s Medicare Supplement plans come with a 30-day free look period. This means that if during your first month of coverage, you decide the plan is not the best choice for you, you are entitled to a complete and full refund of any premiums paid to Humana.
- Portability – Your Humana Medicare Supplement plan is portable. This means that your plan’s coverage follows you anywhere in the country and your plan will be accepted by any medical provider or facility that accepts Medicare.
- Multi Purchase Discount – If another person in your household has a Humana Medicare Supplement plan, each of you can get a 5% discount on your monthly payment. (not available in every state)
- Auto-Pay Discount – Insureds who elect to have their monthly payments electronically deducted from their checking account or a credit card will receive an additional discount on their payment.
- Electronic Claims – Although most healthcare providers will file your claims directly with Humana, you can file a claim through their website when necessary.
Humana’s Medicare Supplement Plans Comparison
Find Medicare Plans in 3 Easy Steps
Supplement Plans A and B
Medigap plan A and B are considered basic plans are the least expensive in terms of monthly premium. Although A and Medicare Supplement plan B provides many of the same medical and hospital benefits as more expensive plans, Plan A will not cover your Part A and B deductible and B will not cover your Part B deductible.
Supplement Plan C
Plan C should be considered because although it’s priced a little higher than A and B, the plan offers more coverage than the basic benefits which offers peace of mind knowing that your medical needs will be covered.
Please note that the Medicare Supplement Plan C is limited to Medicare-approved charges only so you may have out-of-pocket costs if your healthcare provider charges more than what Medicare allows.
Supplement Plan F and G
Plan F and Medigap G are very popular because both plans will cover Medicare Part B excess charges. These are charges that your healthcare professionals invoice for but are over and above what Medicare has approved to pay.
Plan F also offers a “High Deductible” option where the insured trades a lower monthly premium for additional out-of-pocket expenses.
Supplement Plans K, L, and N
Plans K, L, and N are designed to provide the basic benefits as the other Medicare Supplement plans at a lower premium in exchange for the insured accepting a lower coverage amount of Original Medicare’s coinsurance and copayments. Plan K and L do offer a cap on out-of-pocket expenses.
Medicare Supplement Plan N offers more coverage that K and L while still reducing the monthly premiums and the only out-of-pocket expenses are it’s $20 copay for doctor visits and it’s $50 copay for emergency room visits.
Call 844-528-8688 now for a FREE rate comparison from all the top companies in your area!
Humana Extras that go Over and Above Medicare Required Coverage
When you choose Humana Medicare Supplement Plans or Humana Medicare Advantage you are provided with extra services that Medicare does not require and that other companies may or may not offer. Some of the extra services provided are:
- Silver Sneakers – A paid membership to a basic fitness center.
- Vision Discount Card – Members automatically become a member of EyeMed which offers significant discounts on vision services at many national vision centers.
- RX Discount – The RX Discount program allows members to save an average of 20% on medications.
- Many more
For more information about Humana Medicare Supplement Plans or Medicare Advantage Plans and all of the benefits that are provided with your membership, contact the Medicare Solutions Team for expert advice and free and confidential quotes for your healthcare coverage. 844-528-8688
Frequently Asked Questions
Humana Medicare Supplement Plans, also known as Medigap plans, are insurance policies that help cover some of the costs not paid by Medicare Parts A and B, such as copayments, coinsurance, and deductibles.
A Medicare Advantage Plan, like a Humana Medicare Advantage plan, replaces Original Medicare and provides additional benefits. In contrast, a Medicare Supplement Insurance Plan, such as those offered by Humana, works alongside Original Medicare to cover costs that Medicare does not.
To be eligible for Humana Medicare Supplement Insurance Plans, you must be enrolled in Medicare Parts A and B and live in an area where the plans are available. You may check your eligibility based on your zip code.
Humana offers various Medigap plan options, including plans A through G and plans K through N, each with different coverage levels and premiums. You can review available plans in your area to find the best fit for your needs.
When reviewing Humana Medicare plans available in your area, consider factors such as premiums, out-of-pocket costs, coverage options, and whether your preferred healthcare providers are in the network.
es, Humana offers high deductible plan options, such as High Deductible Plan F, which can provide lower premiums in exchange for a higher deductible that you must meet before coverage kicks in.
Many Humana Medicare Advantage plans include coverage for prescription drugs. It is essential to review the specific plan details to understand what is covered by your plan and any associated costs.
Have Questions?
We can Help!
Talk to one of our licensed Medicare supplement agents about the options available to you in your area.
Mon – Fri 8:00 am – 6:00 pm
Sat available upon request
